OXFORD UNIVERSITY PRESS

The Financial Development of Japan, Korea and Taiwan: Growth, Repression and Liberalization

ISBN : 9780195087666

参考価格(税込): 
¥27,720
著者: 
Hugh T. Patrick; Yung Chul Park
関連カテゴリー
ページ
400 ページ
フォーマット
Hardcover
サイズ
164 x 242 mm
刊行日
1994年10月
メール送信
印刷

This path-breaking comparative study of the economies of Japan, Korea, and Taiwan analyses the evolution of the financial systems of each country in relation to their last four decades of dynamic economic growth. Each country study is addressed in two chapters, the first covering macroeconomic aspects of the financial system and the second chapter focusing on commercial banking. The analysis shows how financial development has occurred in two distinct phases. Initially interest rates were regulated to remain below market levels, entry of new financial institutions was restricted, financial markets were segmented, and domestic finance was insulated from world financial markets. The second phase has seen a steady, if sometimes slow, removal of these restrictions. This liberalization has meant regulation now focuses on prudential measures for system safety while financial resources are increasingly allocated through the marketplace. The evaluation of the financial development of Japan, Korea and Taiwan provides significant insights for economists and policymakers. In particular, there are many lessons for less developed markets and transforming socialist economics.

著者について: 

Edited by Hugh T. Patrick, Caulkins Professor of International Business, Columbia University, and Yung Chul Park, President, Korea Institute of International Finance

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